Number of homes sold in November plunges

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Number of homes sold in November plunges

SAN DIEGO — The number of home sales in San Diego continued to plunge last month, on both a monthly and annual basis, according to figures released Thursday by the San Diego Association of Realtors.

Just over 1,400 single-family homes sold in November, down 25 percent from October and 7 percent lower than November 2014, the SDAR reported. For attached homes like condominiums and townhouses, 738 changed hands last month, down 24 percent from the month before, and 3 percent lower than the same month last year.

Stronger sales earlier this year make for a more positive long-term picture, according to the association. Despite declining sales this fall, the number of houses that changed ownership is up 8 percent over 2014, while condo sales are up 10 percent year-to-date.

The median price of a house sold last month was $539,000, up 3 percent over the month before and 10 percent above the figure in November 2014, according to SDAR stats. For condos, the median sales price in November was $340,000, 4 percent lower than October but 6 percent higher than the same month last year.

“We aren’t seeing any monster growth in home prices, which will be a good thing to maintain economic stability in the region,” said SDAR board President Chris Anderson. “Inventory and affordability are the other side of the spectrum, and both are keeping our home sales from shaking loose.”

The most expensive listing sold in the county in November was a five- bedroom, eight-bath, 9,100-square-foot home on the coast of La Jolla, built in 1996, with a sale price of $12 million.